KARACHI: The two identical petitions filed by BOYCO Petroleum Company against demand notices for recovery of Sales Tax & Petroleum Levy we're disposed of here on Wednesday by a Custom Appellate bench of High Court of Sindh by consent of the contesting sides. As the petitions were taken up, the counsel from Franklin Law Associates appearing for the petitioner company said that he will not press the petitions if the respondents are directed to accept the order of this court dated 22- 4- 2020 for accepting bank guarantee against disputed amount of Sales Tax & Petroleum Levy. The counsel also submitted that petitioner is ready to face adjudication proceedings which have been already initiated but subject to issuance of the proper Show Cause notices issued in accordance with law. Khalid Rajpar advocate appearing along with Deputy Collector Asim Awan and Malik Safdar Superintendent did not oppose the disposal of petitions in following terms. The bench with consent of the parties disposed of the petitions while ordering that "respondents shall accept the bank guarantee for provisional release of the seized HSD 200000 liters being purportedly supplied to Tug Boats at SPM of the petitioner company which maintains that Sales Tax & Petroleum Levy is not payable for HSD for Home Consumption. It also challenges the jurisdiction of Pakistan Customs and maintains that Inland Revenue authorities are competent authorities in the instant matter.